After Bitmain, Another Crypto Mining Company Bitfury Considers IPO

by | Oct 27, 2018 | Cryptocurrency, Cryptocurrency News

Bitmain | Bitfury | Crypto Mining Company | IPO

One of the largest non-Chinese cryptocurrency mining companies, Bitfury, is reportedly planning to expand its horizon including an Initial Public Offering (IPO), which could be Europe’s first major listing in the cryptocurrency industry.

According to a source, who choose to be anonymous, cited by Bloomberg reports, Bitfury is in talks with global investment banks in Amsterdam, London, and Hong Kong to explore their trading prospects. For its public offering, the European cryptocurrency mining company is exploring multiple avenues such as raising debt financing or selling a minority stake of its ownership.

If Bitfury chooses to go public within the next two years, it could seek a  valuation ranging between $3 and $5 billion. These numbers can vary based on the market conditions along with the overall health/growth of the industry.

IPO’s of Mining Companies

Bitfury is not singular in considering an IPO option as 2018 observed many mining companies go public. In May, a Chinese company, Canaan Creative, known for their Avalon ASIC lineup, officially filed $1 billion in IPO funding with the Hong Kong Stock Exchange.

In July, Bitmain was reported to eye an IPO worth an astonishing  $14 billion valuations. However, a set of leaked documents suggests that just about $105 million of the company’s assets were cash, while $1.17 billion were held in cryptocurrencies, raising concerns because of the overall state of the market in 2018.

Read more: Forbes launches Forbes CryptoMarkets, A Crypto Tracking Portal

Arshmeet Hora

The idea of expressing one’s views and reviews through words is beyond intriguing. What started as a creative let out has now become a passion and a profession for Arshmeet K Hora. In her own words ” with every word, every article that I write, my passion towards this medium has grown stronger.”  Arshmeet covers latest crypto news and updates as well as what happening new revolving around Blockchain Technology.

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